Private Mortgages Hamilton
Private mortgage lenders are alternative sources of financing. If a bank has turned down your application for a second mortgage or loan, then you should consider a private mortgage lender. Private lenders follow different guidelines in comparison to banks. They will provide mortgages for people even if they have a bad credit.
When dealing with a private mortgage lender, your employment and credit score are not consider as important factors. The primary factor is the total amount of equity that you have in your property. If a property has a huge amount of equity the interest rate will be low. On the contrary, if the property has a small amount of equity then the interest rate will be high.
Banks, due to their strict guidelines do not qualify most people for a loan. This void can be filled by private lenders and the borrower can receive money to do what they deemed fit. Private lenders are very flexible in regards to the mortgage terms and conditions. Therefore let us know your requirements and we will arrange a private mortgage for you.
Private lenders are best suited for people struggling with issues like:
- Bad credit– Private lenders are usually a lot more flexible. They help bring your credit rating back on track by utilizing the equity in your home to pay off your debts.
- You are self-employed – Private lenders can be a great option for those who are self-employed. It is a good option for entrepreneurs who usually have trouble in opening a mortgage as they may not declare all of their income to the government.
- Debt consolidation – Banks usually step away to provide a mortgage when they see that you’re trying to pay off existing debts. Private lenders can help you utilize the equity built up in your home over the years to repay your unsecured creditors and considerably reduce your monthly payments.
We have specialized private mortgage brokers in Hamilton. They can quickly assist you in getting the financial help you need. Our private mortgage brokers can inform you within a matter of minutes if you qualify for a loan.
To get the best private mortgage options, please call or email us. We can arrange your loan even if you have a weak credit score.